Nischal Shetty & Siddharth Menon, co-founders of WazirX, shift base to Dubai

Even as Nischal Shetty and Siddharth Menon, co-founders of Indian cryptocurrency exchange WazirX, have shifted their base to Dubai from India, Union Finance Minister Nirmala Sitharaman has said the biggest risk around cryptocurrency is its possibility to be used for money laundering and terror financing. “The biggest risk for all countries across the board will be the aspect of money laundering and that of such currency being used for financing terror,” she said at an event in Washington. These comments come at a time when multiple sources have told Business Today that Shetty and Menon have moved out of India with their families to Dubai although WazirX still has an office in Mumbai and Bengaluru. Sameer Mhatre, a co-founder and the Chief Technology Officer at WazirX, however, continues to operate from India, one of the sources said. Currently, the entire workforce at WazirX is working remotely. The story will be updated as more details come in. Watch this to know more-